Financial Technologies and Traditional Banking

Both offer financial services, but their systems are very different. Meet the main differences between Financial technologies and traditional banking.

Type of services


Traditional banking focuses on supporting clients with financial services through specific products, such as payroll or debit accounts, credit cards, mortgage loans, etc. For their part, Financial technologies offer a narrower range of products, the most popular being online personal loans, followed by crowdfunding and cryptocurrencies.

Way to operate

Way to operate

Almost all banks concentrate most of their operations in their branches, that is, person to person. This means that in order to make a move or submit an application, the account holder has to go to the facilities of his bank. To facilitate the procedures, some institutions have begun to implement mobile banking, although it has not succeeded in completely replacing branch visits. In contrast, Financial technologies operate 100% online, offering its customers the possibility of managing their operations from the place where they are located.

Laws and regulations

Laws and regulations

Although the Bank of Mexico, the National Banking and Securities Commission, the Ministry of Finance and Public Credit, and the Credit Checker are involved in the regulation of both banks and Financial technologies, there are some other institutions involved in the control of operations depending on the type of product they offer. For example, the National Commission of the Retirement Savings System limits itself to monitoring the institutions that administer retirement funds in traditional banking.

Answer’s capacity

Financial institutions that operate in a traditional way follow bureaucratic protocols that usually take several days, if not weeks. In the case of personal loans provided by banks, applications are evaluated thoroughly for days before giving a response. In addition to the slow processes, it is necessary to consider that most of the banks work from Monday to Friday from 8 to 3 in the afternoon. On the contrary, technology finance companies operate 24/7 with a response capacity that ranges from a few minutes to a maximum day.

The sector of the population they serve

While traditional banking offers its services to a small sector of the population due to the age and income restrictions (among others) that it poses, Financial technologies serve a greater range of people, making certain financial products more accessible. For example, at Cash family Mexico we offer personal loans online to Mexicans who are between 20 and 65 years old.

Enjoy the benefits offered by Financial technologies with your personal loans. In Cash family Mexico we offer our clients a safe and immediate service, as well as the facilities to restructure their loan from the comfort of their home. With us, you can receive up to $ 6000 and pay them in a maximum period of 30 days.

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